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UBS Joins Calls for More BOE QE as Covid Hit to Jobs Intensifies

U.K.’s young and minority furloughed workers are being cut
Resolution research indicates unemployment was 7% in September

By

Eileen Gbagbo and

October 27, 2020, 10:30 PM UTCUpdated onOctober 28, 2020, 10:09 AM UTC

UBS Group AG became the latest institution to predict more Bank of England stimulus next week amid growing signs of weakness in the U.K. jobs market.

Policy makers will raise their asset purchase target by 100 billion pounds ($130 billion), strategists at the Swiss bank predict, joining Royal Bank of Canada and Nomura International. The BOE’s Nov. 5 decision comes just after the end of the U.K.’s current furlough program on Saturday.